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> Coinbase provides your full transaction history to the FBI, FinCEN and IRS every day. They are under a gag order. That is interesting accusation. Even if thi

> Coinbase provides your full transaction history to the FBI, FinCEN and IRS every day. They are under a gag order. That is interesting accusation. Even if this is true, we will unlikely have evidence. Is there a serious risk to Coinbase users granted Gov is having full access?

throwaway812 13y ago
If they had evidence of that, why wouldn't they have pasted it as well? I'm assuming it's baseless speculation. Btw, has anyone actually confirmed any of these emails / names are real? I have a coinbase account and am not mentioned in the leak.
- kevingadd 13y ago
  Wouldn't any evidence supporting the existence of the gag order be a violation of the gag order?
  - superuser2 13y ago
    Because it's not a secret. That is (a heavily dramatized version of) the standard regulations that apply to every licensed money transmitting service.
  - headShrinker 13y ago
    Yes. I read something about a library that had a sign up, "No government agents have been here." They would take down the sign during an investigation. Any one who knew the sign -was- there knew an investigation was underway. No gag order was broken. There is a name for this type of flag, but don't know it off hand.
    - alistairjcbrown 13y ago
      Warrant Canary http://en.wikipedia.org/wiki/Warrant_canary http://en.wikipedia.org/wiki/Warrant_canary
  - throwaway812 13y ago
    Presumably the person dumping names and emails (PII/PID) on pastebin has little regard for gag orders. (And no motivation not to reveal such an order, if proof were readily available.)
- poopoulis 13y ago
  I can confirm at least one name and address on it is real.
berberous 13y ago
This is highly likely to be true, and even if it's not, everyone should operate as if it's true. With the meteoric rise in price appreciation, I can't imagine the IRS at some point not requiring that the largest companies directly report users' income or capital gains to them. So don't be tempted to under-report your bitcoin gains. Similarly, the FBI and other money regulators have clearly shown their strong interest in stopping illegal activities conducted with Bitcoin, so I can't imagine them not receiving information from the largest companies and exchanges. The allegation of a gag order is a bit odd, however. This should all be fairly obvious, so I'm not sure why anyone would want to keep it secret. Counting on the hubris and naivety of criminals, I guess?
- oijaf888 13y ago
  What form would the IRS require it to be filed as? I don't know of any industry/company that is required to file a monthly/daily 1099 for customers. Even the banks are only required to file that stuff yearly via a Schedule D.
  - berberous 13y ago
    Oops, you are right, I totally read that too fast and didn't catch the allegation of "full" transaction history being provided "daily" for all users. That seems like way more detail than the IRS or FinCEN needs...even the FBI is likely more targeted than that. Also, I should note I am no expert on this topic, I just think people would be very foolish to cheat on their taxes or commit financial crimes via Coinbase or any very large exchange. One should assume government prosecutors or tax collectors can and do access it just as easily as with the regular banking infrastructure (to whatever extent that is), even if they don't actually do so yet.
madaxe_again 13y ago
It's hard to believe that it's not the case. I mean - why wouldn't the DOJ take an interest?

throwaway812 13y ago

If they had evidence of that, why wouldn't they have pasted it as well? I'm assuming it's baseless speculation. Btw, has anyone actually confirmed any of these emails / names are real? I have a coinbase account and am not mentioned in the leak.

kevingadd 13y ago
Wouldn't any evidence supporting the existence of the gag order be a violation of the gag order?
- superuser2 13y ago
  Because it's not a secret. That is (a heavily dramatized version of) the standard regulations that apply to every licensed money transmitting service.
- headShrinker 13y ago
  Yes. I read something about a library that had a sign up, "No government agents have been here." They would take down the sign during an investigation. Any one who knew the sign -was- there knew an investigation was underway. No gag order was broken. There is a name for this type of flag, but don't know it off hand.
  - alistairjcbrown 13y ago
    Warrant Canary http://en.wikipedia.org/wiki/Warrant_canary http://en.wikipedia.org/wiki/Warrant_canary
- throwaway812 13y ago
  Presumably the person dumping names and emails (PII/PID) on pastebin has little regard for gag orders. (And no motivation not to reveal such an order, if proof were readily available.)
poopoulis 13y ago
I can confirm at least one name and address on it is real.

berberous 13y ago

This is highly likely to be true, and even if it's not, everyone should operate as if it's true. With the meteoric rise in price appreciation, I can't imagine the IRS at some point not requiring that the largest companies directly report users' income or capital gains to them. So don't be tempted to under-report your bitcoin gains. Similarly, the FBI and other money regulators have clearly shown their strong interest in stopping illegal activities conducted with Bitcoin, so I can't imagine them not receiving information from the largest companies and exchanges. The allegation of a gag order is a bit odd, however. This should all be fairly obvious, so I'm not sure why anyone would want to keep it secret. Counting on the hubris and naivety of criminals, I guess?

oijaf888 13y ago
What form would the IRS require it to be filed as? I don't know of any industry/company that is required to file a monthly/daily 1099 for customers. Even the banks are only required to file that stuff yearly via a Schedule D.
- berberous 13y ago
  Oops, you are right, I totally read that too fast and didn't catch the allegation of "full" transaction history being provided "daily" for all users. That seems like way more detail than the IRS or FinCEN needs...even the FBI is likely more targeted than that. Also, I should note I am no expert on this topic, I just think people would be very foolish to cheat on their taxes or commit financial crimes via Coinbase or any very large exchange. One should assume government prosecutors or tax collectors can and do access it just as easily as with the regular banking infrastructure (to whatever extent that is), even if they don't actually do so yet.

madaxe_again 13y ago

It's hard to believe that it's not the case. I mean - why wouldn't the DOJ take an interest?